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    Europe and Central Asia - 2012

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    The document summarizes the World Bank's work in Europe and Central Asia in fiscal year 2012. It provided $6.6 billion in assistance to support competitiveness, social reforms for inclusive growth, and sustainable development. Key areas of focus included improving infrastructure, skills, and the business environment to increase private sector growth; strengthening social safety nets; and investing in energy efficiency and renewable energy to promote climate change mitigation and adaptation. Major partners included the IMF, EU, and Russia.

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    Europe and Central Asia - 2012

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    Paromita2013
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    The document summarizes the World Bank's work in Europe and Central Asia in fiscal year 2012. It provided $6.6 billion in assistance to support competitiveness, social reforms for inclusive growth, and sustainable development. Key areas of focus included improving infrastructure, skills, and the business environment to increase private sector growth; strengthening social safety nets; and investing in energy efficiency and renewable energy to promote climate change mitigation and adaptation. Major partners included the IMF, EU, and Russia.

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    World Bank Report on Europe and Central Asia - 2012

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    The document summarizes the World Bank's work in Europe and Central Asia in fiscal year 2012. It provided $6.6 billion in assistance to support competitiveness, social reforms for inclusive growth, and sustainable development. Key areas of focus included improving infrastructure, skills, and the business environment to increase private sector growth; strengthening social safety nets; and investing in energy efficiency and renewable energy to promote climate change mitigation and adaptation. Major partners included the IMF, EU, and Russia.

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    Download as PDF, TXT or read online from Scribd
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    21 views2 pages

    Europe and Central Asia - 2012

    Uploaded by

    Paromita2013
    The document summarizes the World Bank's work in Europe and Central Asia in fiscal year 2012. It provided $6.6 billion in assistance to support competitiveness, social reforms for inclusive growth, and sustainable development. Key areas of focus included improving infrastructure, skills, and the business environment to increase private sector growth; strengthening social safety nets; and investing in energy efficiency and renewable energy to promote climate change mitigation and adaptation. Major partners included the IMF, EU, and Russia.

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    europe and central asia


    The majority of countries in emerging Europe and Central Asia have recov ered from the 200809 global economic crisis, but growth remains slower than before the crisis in most of the region. Estimated growth of 5.5 per cent in 2011 is projected to slow to 3.4 percent in 2012, largely a result of the sovereign debt problems in the Euro Area, which are reducing crossborder financial capital flows, trade, and workers remittances. World Bank Assistance World Bank support to the region reached $6.6 billion in fiscal 2012. Lending was targeted to support a regional strategy based on three pillars: deepening reforms for improved competitiveness; supporting social sector reforms for inclusive growth; and helping countries take action to improve energy efficiency and address climate change for sustainable growth. Despite the need for adjustments, the resilience of Europes economic growth model and its strong record of economic and social convergence are the highlights of a 2012 regional flagship report, Golden Growth: Restoring the Lustre of the European Economic Model. The report underscores the strong features of the European model, which has driven growth and convergence for the past five decades, notably financial and trade integra tion as well as social inclusion, and equally highlights reforms needed to restore competitiveness. Increasing Competitiveness Infrastructure and the need for skilled workers are the key bottlenecks to private-sector growth in the region, according to the 2010 Business Environment and Enterprise Performance Survey, which polled more than 10,000 firms in 29 countries in the region. Increasing competitiveness and improving productivity require improvements to governance and the in vestment climate, stable and effective financial intermediation, upgraded labor-force skills, better energy and transport infrastructure, and more ef ficient public spending. Through operations in the region in fiscal 2012, the Bank helped stabi lize the financial sector in Montenegro and FYR Macedonia and increase access to finance for small- and medium-size enterprises in Armenia, Bosnia and Herzegovina, Moldova, and Turkey. Bank operations improved critical transport infrastructure in Kazakhstan, the Kyrgyz Republic, Ukraine, and the South Caucasus; provided advisory support for modernization ef forts in the public administration in Romania; and contributed to reform efforts by Armenia, Kosovo, Poland, and the Russian Federation to improve the business environment and spur innovation. Supporting Social Sector Reforms Countries that already had good safety nets in place before the 2009 crisis were best able to protect those in need during the crisis, which hit the region hard. To prepare countries to weather new turmoil linked to the Euro Area crisis, promote employment, and deal with the aging of the

    FIGURE 2.5

    FIGURE 2.6

    EUROPE AND CENTRAL ASIA IBRD AND IDA LENDING BY SECTOR | FISCAL 2012
    SHARE OF TOTAL OF $6.6 BILLION

    EUROPE AND CENTRAL ASIA IBRD AND IDA LENDING BY THEME | FISCAL 2012
    SHARE OF TOTAL OF $6.6 BILLION

    Water, Sanitation, and Flood Protection Transportation


    19%

    2% 1%

    Urban Development
    Agriculture, Fishing, and Forestry
    1% 24%

    3% 18%

    9%

    Economic Management Environmental and Natural Resources Management

    Education Energy and Mining

    Trade and Integration Social Protection and Risk Management Social Development, Gender, and Inclusion Rural Development

    8% 5% 1%

    Public Administration, Law, and Justice 23%

    7%

    Finance

    26% 2% < 1% 14% 13%

    Financial and Private Sector Development

    Information and Communications Industry and Trade

    < 1% 3% 18%

    Rule of Law
    Health and Other Social Services

    Public Sector Governance

    Human Development

    Countries Eligible for World Bank Borrowing Albania Armenia Azerbaijan Belarus Bosnia and Herzegovina Bulgaria Croatia Georgia Kazakhstan Kyrgyz Republic Kosovo Latvia Former Yugoslav Republic of Macedonia Moldova Montenegro Poland Romania Russian Federation Serbia Tajikistan Turkey Turkmenistan Ukraine Uzbekistan

    IBRD 34944R AUGUST 201 for 2012 Annual Report locator map

    population, the Bank is working with countries to improve their social safety nets. In Romania, the Bank is working to make a comprehensive social assis tance program more equitable and efficient. In Tajikistan, it is supporting the governments efforts to develop ways to identify the poor, so that it can more effectively channel support to them in times of need. Bank lend ing is protecting spending on social assistance and health care in several countries across the region, including Poland and Romania. It is support ing improvements to social safety nets and insurance in Albania and Armenia, and it is funding health care enhancements in Moldova. In Russia, the Bank is working with the Republic of Yakutia to modernize its early childhood network, including the latest design and technology for effec tive and cost-efficient construction of early childhood centers. Mitigating and Adapting to Climate Change ECA has some of the highest energy intensity countries in the world as a result of artificially low energy prices and limited investment in infrastruc ture over the past 25 years. To help the countries meet this massive chal lenge, the Bank is supporting investments to improve sustainability and adaptability across the region. Bank operations are backing policy reforms to provide incentives for efficient energy use in Poland, Serbia, and Turkey, and are financing investments in energy efficiency and renewable energy projects in Poland, Turkey, Ukraine, and Uzbekistan. The Bank is supporting carbon finance operations in the Czech Republic, Poland, and Romania. In addition, it is investing in improvements in the capacity to forecast climate change in Moldova, Russia, and Central Asia; disaster mitigation and cli mate risk management in Moldova; flood management in Poland; and ur ban development and water and sanitation services in multiple countries.

    Key Partnerships The Bank partnered with the International Monetary Fund (IMF), European Union (EU) institutions, and European international financial institutions to advance the Vienna 2 Initiative, which aims to improve banking systems and coordination in EU and non-EU countries. The Bank has a close partnership with the EU, the largest trust fund donor to the ECA re gion. The Bank is working with the EU to improve the capacity of ECAs EU-member clients to absorb EU funds, and supports EU candidate coun tries reform efforts. The Bank also has a close partnership with Russia, which is now the second-largest trust fund donor in the region, to support education, public finance management, project preparation capacity, of ficial statistics, and global public goods in the region and beyond. (See http://worldbank.org/eca.)

    Europe and Central Asia Results Highlights


    EUROPE AND CENTRAL ASIA REGIONAL SNAPSHOT Total population Population growth Life expectancy at birth Infant mortality per 1,000 live births Female youth literacy Number of people living with HIV/AIDS 2011 GNI per capita GDP per capita index (2000 = 100) 0.4 billion 0.5% 71 years 19 99% 1.5 million $7,610 162

     Pensioners in Azerbaijan now receive their payments in full and on time as a result of the Pension and Social Assistance Project. The project increased the number of people contributing to the social security system by 40 percent between 2003 and 2011 to 1.87 million people. (See http://go.worldbank.org/ QN0LF5XP50.)  Three development policy operations strengthened the safety nets in Georgia. Between 2009 and 2011, the loans expanded coverage under the targeted medical insurance system from 750,000 to 900,000 people and increased the number of people receiving social assistance from 370,000 to 440,000. (See http:// go.worldbank.org/OHLI96VRF0.)  Seventy-three million regional energy consumers have benefited from the introduction of wholesale markets for electricity in the Southeastern Europe Energy Community and Turkey, through the Europe and Central Asia Regional Energy APL Program. The program also financed the construction or rehabili tation of 42 substations, 218 kilometers of transmission lines, and 165 kilometers of fiber-optic cable. (See http://go.worldbank .org/YFMHWQJYO0.)

    Note: Life expectancy at birth, infant mortality rate per 1,000 live births, and female youth literacy are for 2010; other indicators are for 2011 from the World Development Indicators database. HIV/AIDS data are from the 2012 UNAIDS report, Together We Will End AIDS.

    TOTAL FISCAL 2012 TOTAL FISCAL 2012 New commitments IBRD $6,233 million IDA $362 million Disbursements IBRD $5,654 million IDA $482 million

    Portfolio of projects under implementation as of June 30, 2012: $23.0 billion

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